At the LEAP24 conference, Rabeh Financial, a Saudi-based startup with expertise in equity exchange and crowdfunding, announced that it had successfully closed a seed funding round of 3 million Saudi Riyals. Working with Mjalis Investment Company and a number of angel investors, the startup was valued at 30 million Saudi Riyals.
Rabeh, which was founded in 2022 by Mohammed Al-Salmi and a group of advisors, offers services that make it simple for investors and business owners to discuss and assess investment opportunities. The business uses artificial intelligence and cutting-edge data analysis tools to improve the ownership and knowledge exchange process.
In an effort to lower risks and increase chances of success, Rabeh intends to establish a secondary market for the exchange of ownership, expertise, and consulting, according to the company’s statement. In order to attract investments and spur the expansion of the business sector, the company also plans to introduce technological features that will enable it to connect with investors in the Kingdom and abroad in a variety of industries, including real estate. Additionally, it wants to provide a safe, technologically advanced workplace that complies with legal requirements.
The founder of Rabeh, Mohammed Al-Salmi, emphasized that the investors’ confidence in the investment round demonstrated their belief in the company’s vision to bring promising technological solutions to the Kingdom and develop an investment and business environment. In order to capitalize on favorable opportunities and rely on cutting-edge technologies to deliver a unique user experience, Al-Salmi emphasized the company’s goal of making investment fundamental.
The funding round, according to Majalis Investment chairman Mohammed Al-Omar, “underlines the company’s commitment to offering investors and entrepreneurs a comprehensive and effective experience.” Al-Omar was also eager to support the Kingdom’s efforts to enhance and control the investment climate and to use technology to support growth in line with Vision 2030.
Hazem Al-Najjar and investor Khaled Al-Finjan talked about the gap that the company is trying to fill by combining real estate and finance technology solutions, highlighting the value of innovation in user experience and how it can help with investment difficulties and business expansion in the Kingdom.
Asserting Rabeh’s aspirations to spearhead this revolution, Abdullah Al-Abdullah, who oversees strategies, governance, and compliance, talked about the urgent need for cutting-edge technological solutions that foster innovation, sustainability, and transparency in the business sector.
